Harmony One ICO Report – The Open Consensus
Standard ICO Report Structure:
- Part 1: ICO Analysis (What is it about? What is the ICO intending to do? Describes what the platform is.)
- Part 2: CROWDSALE ANALYSIS – DETAILS & TOKEN SUPPLY
- Part 3: Useful Links (Further Research)
Part 1: ICO Analysis
The advent of digital currency has introduced the world to the powerful wonders of blockchain technology. With this innovation, we are able to see a world where the once centralized internet is no longer the only option available to the majority of users. Instead, blockchain technology offers the world access to a decentralized solution for many different online applications. These decentralized applications are extremely complex though and require a great deal of processing power to support them.
The goal of many blockchain projects is to have enough processing power which in turn, can hopefully scale to be a worldwide service. Yet, this scaling process is extremely difficult and many question the ability to exist protocols such as Ethereum and their ability to scale properly.
With that in mind, the mission with Harmony is to deploy a scalable open consensus platform for the future of the world with 10 billion people living here. The team behind Harmony believes two important goals of their platform will be scalability and a platform for the future of a decentralized world.
The Harmony Foundation
The team behind Harmony aims to create a new ecosystem for decentralized applications. The team plans the Harmony network to operate in a manner that will allow for high-throughput, low-latency, and low network fees. With this network, the world should be better equipped to deal with the world’s data using open and decentralized infrastructure. Furthermore, the Harmony platform will aim to build a verticle integrated solution.
With this in mind, Harmony plans to build the software in a manner that is able to be more easily scaled. Through this process, the team hopes a global marketplace will also be able to thrive on top of the Harmony platform.
Harmony’s Technical Protocol
Harmony.one’s main goal will be with a decentralized network that can handle exponential growth. Through this, the consensus protocol will become a key component to the longevity of the platform. The team has put together an interesting consensus protocol which should add to the longevity of the decentralized community.
The protocol will utilize technologies such as sharding and pipelining to allow for “parallelize transactions” to process through the network as it grows and also opens up latency within the network.
The team has stated that they are working to develop a lean, mission specific kernel which will be able to run the Harmony protocol with increased CPU performance. Through this process and use of the unique kernel, the system will also be more secure. Hopefully, as the internet expands into other devices, this new technology built by the team will enable a slew of devices to be utilized for the consensus process.
Network of Consensus
Harmony also helps with communication within the network. Through its implementation of network engineering techniques, the network will allow for better message propagation. Through this increased efficiency the network should be able to reach a consensus even more quickly through open communication. As noted above, consensus will be a vital aspect of the projects ability to find longevity in the market and expand its future reach.
Part 2: Crowdsale Analysis – Details & Token Supply
Token type: Network Infrastructure
Phase: Post Private Sale
Team Overview- Members and Advisers
The Harmony.one team is led by Stephen Tse, with Nicolas Burtey, Alok Kothari, Rongjian Lan, Minh Doan, Nick White, Sahil Dewan, and Leo Chen are also on the team
Part 3: Useful Links (Further Research)